Central Bank of Libya gives the go-ahead for foreign currency coverage applications

The Central Bank of Libya has issued a statement announcing that it has decided to give permission to accept applications for foreign currency coverage starting Sunday.

The CBL explained that admission of applications will take place only if the applicants met the CBL’s requirements and the electronic system adopted by the CBL.

The electronic system is an online application that connects the commercial banks with the CBL and through which all applications must be sent, and thus the CBL will reply online with approval or declination.